03.05.21
According to Trends Market Research, the global printed label market accounted for $38.02 billion in 2017 and is expected to reach $67.02 billion by 2026 growing at a CAGR of 6.5% during the forecast period.
Increasing demand for manufactured goods and an upsurge in the disposable income of people worldwide are the key driving factors for market growth.
However, the rise in raw material cost such as plastics in various forms increases the overall cost of the labels is some of the factors hindering the market growth.
By type, in-mold labels will have considerable demand during the estimated period as they are prepared by plastic films printed with a variety of printing techniques. The film is cut to provide the necessary outline of the label. The label is located in the mold being used for the industrialization of the container. In-mold labeling results in no post-labeling process, thus saving time and work.
By Geography, the Asia Pacific region is going to have a lucrative growth during the forecast period in emerging economies such as China, India, and Indonesia due to the incorporation of digital technology with the existing label printing technique. It is bound to fetch a massive change to all the small scale as well as large scale sector.